Taking notes 54: Who owns the Federal Reserve Bank and why is it shrouded in myths and mysteries?

It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. — Henry Ford

Give me control of a Nation’s money supply, and I care not who makes its laws. — M. A. Rothschild

by Ismael Hossein-zadeh

The Federal Reserve Bank (or simply the Fed), is shrouded in a number of myths and mysteries. These include its name, its ownership, its purported independence form external influences, and its presumed commitment to market stability, economic growth and public interest.

The first major myth, accepted by most people in and outside of the United States, is that the Fed is owned by the Federal government, as implied by its name: the Federal Reserve Bank. In reality, however, it is a private institution whose shareholders are commercial banks; it is the “bankers’ bank.”…